Southern Networks Limited’s announcement of financial results for the year ended 30th June, 2011
1 min readKarachi: We have to inform you that the Board of Directors of our Company in their meeting held on 0510.2011 at 03:00 p.m. at M 5-Y, Block-8, P.EC.H.S, Karachi recommended the following:
| (i) | Cash Dividend | Nil |
| (ii) | Bonus Shares | Nil |
| (iii) | Right Shares | Nil |
The financial results of the Company are as follows:
|
2011 |
2010 |
|
|
Rupees |
Rupees |
|
| Revenue | 60,161,331 | 53,736,257 |
| Coat of sales and service (excluding depreciation) | 51,692,680 | 44,523,859 |
| ———- | ———- | |
| Gross profit / (loss) before depredation | 8,468,651 | 9,212,427 |
| Depreciation (relating to cost of sales and services) | 17,601,844 | 18,648,954 |
| ———- | ———- | |
| Gross profit/ (loss) | (9,133,193) | (9,636,527) |
| Other Income | 19,393,675 | 2,198,688 |
| ———- | ———- | |
| 10,260,482 | (7,437,839) | |
| Administrative expenses | 10,272,026 | 8,643,612 |
| Selling expenses | 19,774,814 | 18,056,144 |
| ———- | ———- | |
| 30,046,840 | 26,701,756 | |
| ———- | ———- | |
| Operating profit / (loss) | (19,786,358) | (34,139,595) |
| Financial charges | 32,531 | 7,057,360 |
| ———- | ———- | |
| Profit/ (loss) before tax | (19,318,889) | (41,196,955) |
| Tax expense | 629,191 | 277,959 |
| ———- | ———- | |
| Profit/ (loss) for the year after tax | (20,448,080) | (41,474,915) |
| ———- | ———- | |
| Earnings per share – basic | (0.41) | (0.83) |
The Annual General Meeting of the Company will be held on Saturday 29th, October, 2011 at 11:30 am. at the registered offlce,5-Y, Block-6, P.E.C.H.S., Karachi.
The Share Transfer Books of the Company will be closed from 23rd October, 2011 to 29th October, 2011. Transfer received at the registered office of the company 48 horse before the meeting will be treated in time for the purpose of above entitlement to the transferees.
For more information, contact:
Abdul Hameed
Company Secretary
Southern Networks Limited
5-Y, Block- 6, P.E.C.H.S.,
Karachi- 75100, Pakistan
UAN: 111 222 333
Tel: (92 21) 4315641-3
Fax: (92 21) 4386948